Mirae Asset Tax Saver Fund -Regular Plan-Growth
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Min amount: ₹500
- Save up to Rs 46,800 in taxes every year.
- Highest returns compared to other 80C investments.
- Lowest lock-in of 3 years
|Tax Saving FD||PPF||ELSS|
|Average Annualised Returns i||6%||8%||12%|
|Tax rates i||30%||Not taxable||10%*|
|Returns after tax i||4.2%||8.00%||10.80%|
|Current rate of Inflation i||4%||4%||4%|
|Real Rate of Return i||0.2%||4.00%||6.80%|
|Lock-in Period i||5 years||15 years||3 years|
- Fund Summary
- More about Fund
- Related funds
- Why Cleartax
|Risk||Moderately High risk|
|Fund Type||ELSS (Tax Savings)|
More about this fund
|HDFC Bank Ltd||9.57%|
|Reliance Industries Ltd||6.81%|
|ICICI Bank Ltd||5.46%|
|Axis Bank Ltd||5.03%|
|State Bank of India||4.23%|
|Larsen & Toubro Ltd||3.87%|
|Tata Consultancy Services Ltd||3.03%|
About Mirae Asset Tax Saver
Mirae Asset Tax Saver’s investment objective is capital appreciation. It is an open-ended equity linked saving scheme (ELSS) with a compulsory lock-in of three years.
Pros & Cons of Mirae Asset Tax Saver fund
- The fund is performing exponentially with positive growth since the time of inceptions.
- The selection of funds in this scheme is limited to equity and equity-related stocks with high return ratios. All-in-all it gives a diversified portfolio of strong growth companies with a minimum investment of only Rs 500.
Fund Information and Statistics of Mirae Asset Tax Saver fund
i) Inception / Launch date
This fund was launched on 28 December 2015 by Mirae Asset Global Inv (India) Pvt. Ltd
ii) Risk level
Risk is above average as fund’s performance is driven by the market’s wide fluctuations
Redemption of Units can be made only after the expiry of the lock-in period of three years from the date of allotment of units which the holder has proposed to redeem. It will be done by a repurchase/buyback by the fund house. Under normal circumstances, your fund house will dispatch the redemption proceeds within 10 business days from date of receipt of request.
iv) Fund Manager
Neelesh Surana is an experienced fund manager who has been managing this fund since November 2015.
v) Entry / Exit load
Exit load for this fund is 0%. However, an expense ratio of 2.34% will be applied every year.
Tax benefits of investing in Mirae Asset Tax Saver fund
This is an ELSS fund, which gives the tax benefit to an investor. Returns will be considered as long-term capital gains and if it is more than Rs 1 lakh, 10% without indexation on the sale of units will be applied for this fund.
About Mirae Mutual Fund
Mirae Mutual Fund was established in 1997 as a result of the Asian currency crisis. Today, the fund house possesses the global potential to provide lucrative options to investors spread around the world. It aims to offer its clients financial strategies which are insightful and consistent with the market dynamics. It has given superior performance by means of its diversified product offering.
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Min amount: ₹500
All investments come with risk. Risk is the volatility or fluctuation in the price (and returns) of the investment. Usually,
- High Risk = High possible returns
- Low Risk = Stable, relatively lower returns